Daily Briefing: GIC to nab owner of US mobile home communities for $2b; May condo resale prices dip 0.8%

And bond restructurings trip up Singapore’s wealthiest investors.

Singapore’s sovereign-wealth fund is negotiating to acquire Yes Communities, an owner of manufactured housing communities, in a deal that would value Yes at more than $2 billion, according to people familiar with the matter. Read more here.

Prices of completed non-landed private homes in Singapore fell by 0.8 percent in May 2016, compared to a 0.2 percent increase in the previous month, flash estimates of the NUS Singapore Residential Price Index (SRPI) showed. Read more here.

Singapore’s wealthy investors are discovering they lack clout in negotiations when high-yield bond investments blow up. PT Trikomsel Oke became the first company to default on Singapore dollar debt since 2009 when it failed to repay a bond coupon in November last year, followed shortly afterwards by Pacific Andes Resources Development Ltd. Read more here.